Thursday :: Feb 25, 2010

The Cost of Doing Business

by Deacon Blues

Remember, Wellpoint's need to jack up rates on its individual policyholders in California is all about "medical cost inflation", and the fault of hospitals, drug companies, and costly members. It has nothing to do with the millions in executive compensation they pay, or the lavish executive retreats they have for these hard-working folks. And yet there still were enough excess profits from the California operation to send over $4 billion back to the corporate parent company in Indiana since 2004.

Yet those GOP governors feel the market should be left alone to dictate prices, and object to the government having any role in rate increases at all.

Update: Looks like the moribund Jerry Brown campaign just found an issue.

Deacon Blues :: 11:08 AM :: Comments (6) :: TrackBack (0) :: Digg It!